November.20.08
ANAHEIM, Calif.--(BUSINESS WIRE)--Location Based Technologies, Inc. (OTCBB:LBAS - News), a leading-edge family service provider of personal locator devices and services, today announced it has signed a distribution and fulfillment agreement for its PocketFinder® product line with SED International, Inc., a leading wholesale distributor of wireless communication, consumer electronics, and computer products.
In addition to providing the complete PocketFinder line of products to resellers, SED will also be responsible for fulfillment and logistics for the PocketFinder Affiliate program through the Google (NASDAQ:GOOG - News) Affiliate Network.
"We are pleased to welcome Location Based Technologies to the SED family," said Jonathan Elster, SED International’s executive vice president. "The PocketFinder product line provides our customers with a great opportunity to increase sales while delivering real value to the consumer. This is a quality line of products in an important and growing category."
Dave Morse, CEO and co-founder of Location Based Technologies, commented, "This distribution agreement with SED International, Inc., is a natural fit for us and the PocketFinder brand. SED is highly respected and has a proven track record as a top-tier distribution company. They will provide seamless reseller access to our best-of-breed PocketFinder products and demonstrate our commitment to a diversified channel strategy encompassing affiliates, wireless resellers and traditional retailers."
The PocketFinder family of products uses advanced technology to help families stay connected. The smallest known single-board GSM/GPS device easily fits into a pocket, purse or backpack, and can be accessed via the Internet, cell phone or landline to show its exact location in real time. In addition, the devices include several advanced features, such as allowing users to designate customizable alert areas as electronic "fences" to notify them when a family member or pet leaves or enters a specified area. The devices can even track vehicle speeds to encourage safe driving decisions.
Recently, the PocketFinder service became available on T-Mobile’s Android-based Google phone, thereby enabling those users to easily integrate with the PocketFinder family of products when the devices are released early next year.
About Location Based Technologies
A publicly traded company (OTCBB:LBAS - News), Location Based Technologies designs and develops leading-edge personal locator devices and services that incorporate patented, proprietary technologies designed to enhance and enrich the lives of families globally. The company is headquartered in Anaheim, Calif. For more information, visit pocketfinder.com.
This news release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may differ materially from those discussed or anticipated. For a more detailed discussion of these and associated risks, see the company's most recent document filed with the Securities and Exchange Commission.
Statements made in this Press Release that are not historical or current facts are "forward-looking statements." These statements often can be identified by the use of terms such as "may," "will," "expect," "believes," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to gain product approval in foreign countries and failure to capitalize upon access to new markets. The Company disclaims any obligation to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Reports on Form 10-K for the fiscal year ended June 30, 2008 and Form 10-Q for the quarter ended September 30, 2008.